10 Important Economic MCQs for Most of the competitive examinations

By - admin | Category: Economic

In this article, 10 Important economic mcqs are added which are frequently asked in almost all examination. Each question has four options and the correct answer is below the question. Learn the question on economic here:

Que 1: National Income is also called as–

(A) GNP at factor cost
(B) GNP at market price
(C) NNP at factor cost
(D) NNP at market price

Correct Ans: D

Que 2: Per Capita Income is equal to–

(A) National Income/ Total population of the country
(B) National Income + Population
(C) National Income - Population
(D) National Income x Population

Correct Ans: A

Que 3: Which one of the following is the most appropriate reason for inequalities in income?

(A) Racial factors
(B) Lack of opportunities
(C) Inheritance from family environment
(D) Differences in ability

Correct Ans: B

Que 4: Which of the following is deducted from NNP to arrive at NI?

(A) Indirect tax
(B) Capital consumption allowance
(C) Subsidy
(D) Interest

Correct Ans: A

Que 5: Which one of the following is not included while estimating National Income through income method?

(A) Rent
(B) Mixed income
(C) Pension
(D) Undistributed Profits

Correct Ans: D

Que 6: While computing National Income estimates, which of the following is required to be observed?

(A) The value of exports to be added and the value of imports to be subtracted
(B) The value of exports to be subtracted and the value of imports to be added
(C) The value of both exports and imports to be added
(D) The value of both exports and imports to be subtracted

Correct Ans: A

Que 7: Who estimated the National Income for the first time in India?

(A) Mahalanobis
(B) Dadabhai Naoroji
(C) VKRV Rao
(D) Sardar Patel

Correct Ans: B

Que 8: National Income is generated from–

(A) any money-making activity
(B) any labourious activity
(C) any profit-making activity
(D) any productive activity

Correct Ans: D

Que 9: Which of the following is deducted from GNP to arrive at NNP?

(A) Depreciation
(B) Interest
(C) Tax
(D) Subsidy

Correct Ans: A

Que 10: The total value of goods and services produced in a country during a given period is–

(A) Disposable Income
(B) National Income
(C) Per Capita Income
(D) Net National Income

Correct Ans: B

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10 Important Economic MCQs for Most of the competitive examinations

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